The Turkish Presidency’s Strategy and Budget Department determined the cost of Feb. 6 and Feb. 20 earthquakes approximately two trillion liras (105 billion dollars).
In a new report titled “2023 Kahramanmaraş and Hatay Earthquakes Report,” the department said “It is estimated that the total burden of the disaster caused by the earthquake on the Turkish economy is approximately 2 trillion Turkish Liras," adding this figure will correspond approximately nine percent of the country's national income in 2023.
The major component of this cost is on the housing sector with a rate of 54.9 percent, the report said.
The report also emphasized that the Feb. 6 quakes has been the most deadly quakes in Turkey since 1900.
Turkey’s southeastern region was struck by two major earthquakes on Feb. 6, one at a magnitude of 7.7 and the other at 7.6. The first one’s epicenter was Kahramanmaraş’s Pazarcık district, whereas the second one was the Elbistan district.
Moreover, 6.4, 5.8, 5.2, 5.2 magnitudes of earthquakes hit southern Hatay on Feb. 20, increasing the extent of damage.
According to the official figures as of March 17, the number of citizens who have died in the earthquakes stands at 48,448, but experts fear that the number is much higher, taking into consideration the thousands of buildings that collapsed.
Over 200,000 buildings are reported to have collapsed or severely damaged as a result of the quakes.